Minutes 01/07/1991 - Laserfiche WebLink

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At Januar~ t M~yc Johr S T~ CONSEN~ folloWj Regulaz readinc of and Imp Thi prc pfc res $41 VI~ VA~ PRC PRI January 7, 1991 461 WHEP~EAS, in the judgment of the Council (the "Council") City of Portsmouth, Virginla (the "city"), it is necessary pedient to issue and sell General Obligation Public ement Bonds of the City in an aggregate principal amount of -Five Million Dollars ($35,000,000) for the purpose of ing funds to pay the costs of various public improvement ts of and for the City; and WHEREAS, on August 11, 1987 the Council adopted a tion, entitled "A RESOLUTION AUTHORIZING THE ISSUANC~ OF 00 GENERAL OBLIGATION BONDS OF THE CITY OF PORTSMOUTH, IA FOR THE PURPOSE OF PROVIDING FUNDS TO PAY THE COST OF S IMPROVEMENT PROJECTS OF SUCH CITY AND AUTHORIZING AND ING WITH RESPECT TO THE ISSUAMCE AND SALE OF A LIKE ~CIPAL AMOUNT OF GENERAL OBLIGATION BOND ANTICIPATION NOTES IN !0-490 (a) OF to res $7, PRC PRI OF to $10 PROVII PRINCI OF -to PATION OF THE ISSUANCE AMD RECEIPT OF THE PROCEEDS OF SALE BONDS", and no bonds have heretofore been issued pursuan= resolution; and WHEREAS, on December 8, 1987 the Council adopted a sion, entitled "A RESOLUTION AUTHORIZING THE ISSUANCE OF ,000 GENERAL OBLIGATION BONDS OF THE CITY OF PORTSMOUTH, IA FOR THE PURPOSE OF PROVIDING FUNDS TO PAY THE COST OF S IMPROVEMENT PROJECTS OF SUCH CITY AND AUTHORIZING AMD ING WITH RESPECT TO THE ISSUA/~CE AND SALE OF A LI~E PAL D2KOUNT OF GENERAL OBLIGATION BOND ANTICIPATION NOTES IN PATION OF THE ISSUANCE AND RECEIPT OF THE PROCEEDS OF SALE H BONDS", and no bonds have heretofore been issued pursuant resolution; and WHEHEAS, on January 10, 1989 the Council adopted a ion, entitled "A RESOLUTION AUTHORIZING THE ISSUANCE OF 0,000 GENERAL OBLIGATION BONDS OF THE CITY OF PORTSMOUTH, IA FOR THE PURPOSE OF PROVIDING FUNDS TO PAY THE COST OF S IMPROVEMENT PROJECTS OF SUCH CITY AND AUTHORIZING AND iNG WITH RESPECT TO THE ISSUANCE AND SALE OF A LIRE ~LAMOUNT OF GENERAL OBLIGATION BOND ANTICIPATION NOTES IN ~ATION OF T~E ISSUANCE AND R~CEIPT OF T~E P~OCEEDS GF SALE SU~ H BOMDS'%-and no bonds have heretofore been issued pursuant suc resolution; and Public Hearing of the City Council held on Mo~day, , 1991 there were present: Mayor Corprew, ii / r Gloria O. Webb, Vice E.G. ~r~, ny M. Clemens, John H. Epperson, James Ci. Hawks, Lee lng, L. Louise Lucas, V. Wayne Orton, City M~n~ger, rt E. Katz, City Attorney NON-AGENDA SPEAKERS e were no non-agenda speakers. 3ENDA Motion of Mr. Hawks and seconded by Mrs. Lucgs~ the consent agenda items approved on first read~n~ at the eeting of December 11, 1990, were adopted on f~nal nd by the following vote: